CellPro Inc. stock jumped $3 to close at $14 in its first day oftrading on Tuesday after concluding an initial public offeringat $11.
The Bothell, Wash., company, which is developing cellseparation technology, grossed $33 million in its 3 million-share IPO. The company had proposed to sell 2.25 millionshares in the $8 to $11 range.
After the offering, CellPro (NASDAQ:CPRO) has 8.3 millionshares outstanding. Underwriters Paine Webber Inc. and SmithBarney have an option to buy 450,000 shares to coveroverallotments.
CellPro's Ceprate SC Stem Cell Concentrator is in clinicaltrials for use in bone marrow transplant patients.
Meanwhile, on Tuesday, Sepracor Inc. stock closed unchanged at$14, maintaining gains posted since the shares went to marketSept. 20 in an IPO priced at $10.
Underwriters Lehman Brothers, Robertson Stephens & Co. andSmith Barney on Monday exercised their option to buy 600,000shares to cover overallotments.
The overallotment brings to 4.6 million the total number ofshares sold at $10, including 625,000 sold by Rhone-PoulencGroup. The company now has 16.2 million shares outstanding.
Sepracor (NASDAQ:SEPR) said it netted $36.9 million from theoffering, which originally was proposed at 3.25 million sharesin the $8 to $9 range. The Marlborough, Mass., company hasfiled investigational new drug applications for S-Atenolol, apure isomer form of a widely used beta blocker forhypertension, and for flurbiprofen to treat gingivitis.
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